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The legal expert, Tariq Harb, confirmed today, Wednesday, that the constitution stipulated that the Central Bank of Iraq would not be subject to parliamentary oversight, and freed it from any commitment or legislation made by the latter regarding the exchange rate.
Harb said in a statement, "The only independent body among the independent bodies that the constitution has granted privileges that exceed those of other independent bodies mentioned in the constitution in the chapter on independent bodies, namely Articles 102 and 103 of the constitution. The constitution did not make the central bank’s association with the House of Representatives. The Office of Financial Supervision and the Media and Communications Commission are linked to the House of Representatives, and the constitution has made the endowment offices link to the Council of Ministers.
He added that "the constitution did not make the central bank subject to the oversight of the House of Representatives, as it did with the Human Rights Commission and the Independent High Commission for the elections, which the constitution decided to be subject to oversight by the House of Representatives."
He stressed that “the independence of the Central Bank by Law No. 76 of 2004 issued by (Bremer) during the period of his rule is still in effect, and these constitutional and legal provisions have their place when discussing the dollar exchange rate that he set, and issuing laws, especially the 2021 budget bill that is discussed in the House of Representatives. Currently".
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